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Binance is facing legal action from Mark Longo, the owner of Peanut the Squirrel, over the listing of the $PNUT meme coin. Longo has issued a cease-and-desist letter alleging trademark and copyright infringement, claiming that Binance's use of Peanut's likeness misleads consumers. He demands the removal of the intellectual property by December 31, 2024. The controversy highlights ongoing legal issues within the memecoin market, where the lines between intellectual property rights and cryptocurrency branding are increasingly blurred. The $PNUT coin reportedly achieved a market capitalization of $2.27 billion shortly after its launch, prompting Longo's legal response against all exchanges listing the token.
⚡️ NOW: Coinbase is under fire for delisting wBTC, citing risks linked to Justin Sun without providing technical justification. Critics note the irony, as Coinbase itself faces numerous regulatory investigations. https://t.co/ciljV6jRgf
⚡️ NOW: Coinbase is under fire for delisting WBTC, citing risks linked to Justin Sun without providing technical justification. Critics note the irony, as Coinbase itself faces numerous regulatory investigations. https://t.co/BLcwcuNrzg
BitGo's joint custody venture of $WBTC with BiT Global "reopened old wounds inflicted by previous centralized custody failure," even though it did not expose any novel flaws, the @BtcBuilders said in a report. By @JamieCrawleyCD. https://t.co/k4i0zrjQPN
